USD/JPY closed the day above the key 78.28/32 level I noted earlier.
The other charts worth a look are CAD/JPY and AUD/JPY. It’s interesting that EUR/JPY and GBP/PY weren’t able to make the same type of clear break. Once that happens, it will confirm the move.
To me, CAD/JPY is the most convincing buy with a target of 79.25. A more conservative trade would be to wait out this run-up in USD/JPY and look to buy on a pullback below 78.00.
